GFCL EV, a 100% subsidiary of Gujarat Fluorochemicals has invested Rs 6000 crore for EV battery solutions over the next 4-5 years, for the supply of around 200 GWh/annually, of EV and energy storage system battery solutions.
Of this investment, Rs 650 crore has already been invested till 31 December last year, noted the press release.
GFCL EV is poised to enter high-demand regions of the US, Europe, and India and has already initiated long term tie-ups with customers, the release further noted.
"With GFCL EV, we are well-positioned to contribute significantly to the evolving landscape of energy transition driven by EV/ESS. Backed by GFL's experience and an integrated value chain, GFCL EV will have synergistic and competitive advantages towards developing cutting-edge solutions," said Bir Kapoor, CEO and Deputy Managing Director, Gujarat Fluorochemicals, part of INOXGFL group.